Michael & Jonathan are joined by U.S. Congressman Warren Davidson. Recently appointed to President Donald Trump’s bi-partisan “Opening America Up Again” Congressional Group, Congressman Davidson also serves on the House Financial Services Committee, where he has led policy discussions about fintech, blockchain, cryptocurrency, and legislative policy.
Having previously co-sponsored the Token Taxonomy Act, Congressman Davidson has been an advocate for technology innovation and digital transformation in both capital markets and regulatory efforts.
With the continued push towards the adoption of a purely digital form of native U.S. Treasury currency, the U.S. Digital Dollar is a cataclysmic black swan event for U.S. monetary policy and traditional banking.
Smart institutions will adapt quickly, but many will be unable to find new value add propositions and continue to exist. With a potential shift to the IMF for issuance of their own reserve currency, the present hypothesis for a continued demand for the traditional U.S. dollar is at risk of being instantaneously slashed by the global central banking system.
Any U.S. Digital Dollar with a continued ability to manipulate the currency itself is contrasted by a digital currency model like Bitcoin, where the maximum number of units of account is mathematically fixed and unalterable.
As the United States rapidly moves into the global digital currency system, the likelihood of a default on debt obligations is inevitable. This episode should be a sobering alarm bell for any capital markets or financial services stakeholder.
About Congressman Warren Davidson
Warren Davidson represents Ohio’s 8th Congressional District. He is a member of the House Financial Services Committee, where he is focused on policies that help grow our economy, instill fiscal discipline, advance innovation, and limit runaway government expansion that threatens to bankrupt America.
After high school, Congressman Davidson enlisted in the Army as an infantryman. As part of the 3rd Infantry Division, he was stationed in Germany and witnessed the fall of the Berlin Wall. Warren’s commanding officers recognized his potential and helped him earn an appointment to the United States Military Academy at West Point. He graduated near the top of his class as a student of American history and mechanical engineering. As an officer, he led in The Old Guard, the 75th Ranger Regiment, and the 101st Airborne Division.
After the Army, Congressman Davidson returned home, worked with his father, earned an MBA from the University of Notre Dame, and spent fifteen years owning and operating manufacturing companies in Ohio. In 2016, he again responded to the call of service, and came to work in the U.S. House of Representatives.
Warren and his wife Lisa have been married for 25 years and have two adult children.